As we start planning for 2014, ask yourself this question:
When was the last time you took a hard look at where your marketing budget is going?
B-to-B budgets, while on the mend from the last few years, are not growing at the same rate as the tasks we are being asked to do. We all are creatures of habit and tend to go and support things that we’ve used in the past and have been successful.
Do this simple exercise. Pull out a spread sheet from 3 years ago where you have all your line items. I’ll bet you didn’t have things like lead nurturing, responsive websites, mobile apps, mobile marketing or content marketing as part of your radar a few years ago.
Yes, over the past few years you may have dabbled in a new tactic, but have you done enough to see if there has been any impact on your brand? I’m not saying you should abandon your current tactics, just make sure you’re not missing any opportunities that might help you sell more. You go to the doctor for your annual visit, don’t you? Why not put your marketing budget through the same type of process?
You may even want to get someone outside your organization who is familiar with your markets to review line items and make suggestions as to what you might want to try or include moving forward.
By using an outsider, you’re not worrying about someone trying to sell you something, and for some reason, outside consultants somehow get the ear of the C suite easier than you or I would.
Good luck in your planning process and at least set aside a portion of your budget to try new things.
